When you create an estate plan, you want to protect your assets and make sure your wishes guide every decision. Understanding fiduciary duty helps you achieve this. In Arkansas, fiduciary duty means a person you trust must act in your best interest with loyalty and...
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Are beneficiary deeds taxable in Arkansas?
Beneficiary deeds are often seen as a great way to transfer property outside of probate. But one common question many people ask is whether the property transferred via a beneficiary deed is taxable in Arkansas. The answer is not straightforward, as several factors...
What are the tax implications of setting up a trust in Arkansas?
Establishing a trust in Arkansas carries important tax implications that influence estate planning and financial outcomes. Knowing these effects helps you make informed choices aligned with your goals. Trust classifications and their tax effects Arkansas allows both...
What are the risks of not having a power of attorney?
Life is unpredictable, and planning for the unexpected can save you and your loved ones from unnecessary stress. A power of attorney (POA) allows someone you trust to make financial and healthcare decisions if you become unable to do so. Without one, your affairs...
How do fiduciary duties change in the context of blended families?
Blended families can complicate estate planning and trust management. These families introduce unique challenges that fiduciaries must address to ensure all parties' interests are respected. Understanding how fiduciary duties shift in blended family situations is...
What makes a living will valid in Arkansas?
Planning for the future helps ensure healthcare providers and loved ones honor your wishes, especially if you cannot communicate them. A living will outlines your preferences for medical treatment and guides others during difficult decisions. Arkansas law defines...